How prepared would you be if you were suddenly diagnosed with a serious illness or condition? It’s a scary thing to think about. But there are some things you can do to prepare so you are protecting yourself, your family and your finances.
What are some options to protect yourself?
Critical illness insurance is a helpful way to protect yourself from unforeseen expenses that can come with a serious illness.
By working with our team at Coast Capital, we’ll help to design solutions based on your budget and individual needs. We’ll also shop and compare with multiple top insurers to make sure the solution is right for you.
How does critical illness insurance work exactly?
If you have it in place, you’ll get paid a lump sum after your initial diagnosis. You can use this to pay your mortgage, other bills, or additional medical treatments.
Think about the financial impact of your recovery.
It takes time to get better and back on your feet – you don’t need the additional stress of rushing to get back to work when maybe you’re not ready to do so. By having this coverage in place, you’ll also protect your long-term savings such as investments in RRSPs, RESPs and TFSAs. This coverage can also prevent you from having to take on additional debt during your recovery by providing you a lump sum benefit.
Many of us aren’t prepared, so learn about these kinds of insurance options and make a plan.
If you get sick and can’t work, your partner might also take time off work to care for you. Your bills can start to pile up.
Get the protection in place so you don’t have to worry.
Critical care insurance will protect you from the loss of income and high expenses that come with going through a serious health issue, like cancer or a heart attack, so your family is taken care of and you don’t have to worry about your money when you need to focus on getting better.